I’ve received several questions recently about forecasting future values in TIBCO Spotfire. Forecasting in Spotfire can be tricky because it’s hard to add rows to your data table. Unlike Excel, you can’t just drag down a formula. It is possible to forecast in Spotfire, and fairly simple once you learn the steps, but it’s definitely not straightforward or obvious.
In this video, I demo a Spotfire model that uses Decline Curve Analysis (DCA) to forecast oil and gas production. With just a few inputs and some simple TERR scripting, we can fit a curve to historical data, and then use those inputs to forecast future production. These same concepts can be applied to other datasets to forecast values for other industries or applications.
Check it out:
If the embedded player above isn’t working, this video is also on YouTube: https://www.youtube.com/watch?v=aAgYfQXzIwo
How to Build a Forecast in Spotfire
I mention in the video I mention that actually building the forecast is out of the scope of a short video or blog post. To learn more about forecasting in Spotfire, make sure to visit this link: http://www.datafuel.co/forecasting-data-with-spotfire/
Questions / Comments
I hope you’ve enjoyed this overview of forecasting with TIBCO Spotfire. If you have any questions or comments, or if there’s something you’d like featured on this blog, feel free to email me at email@example.com or leave a comment below.